Rapid Vienna to oppose Rangers CVA due to unpaid Nikica Jelavic fee

Rapid Vienna will send lawyers to the meeting at Ibrox on Thursday which will
determine the success or otherwise of preferred bidder Charles Green’s
Company Voluntary Agreement proposal to rescue Rangers and the Austrians
have instructed their representatives to oppose it.

They are still owed £1,011,763.44 by Rangers from the £4 million transfer of Croatia striker Nikica Jelavic (who scored in Sunday’s 3-1 victory over the Republic of Ireland) in August 2010.

Green’s offer to creditors means that Rapid would need to settle for a maximum of just over £91,000 – even though Rangers will receive £5.5 million from the sale of Jelavic to Everton in January.

Rapid could also be asked to settle for much less because creditors have been told the percentage in the pound they receive will largely be determined the outcome of the big tax case and the £25 million law suit administrators Duff & Phelps have lodged against lawyers Collyer Bristow for their role in Craig Whyte’s deal to assume ownership of the stricken Glasgow giants.

It could take years for the latter issue to be resolved and, if results go against Rangers, Rapid may receive £10,000 of the cash due to them – which is why they are determined to take their case against Rangers to governing bodies Uefa and Fifa.

“We have a contract with a British law company and they will be at the meeting on Thursday to take care of business on our behalf,” said Rapid spokesman Peter Klinglmuller.